4254 39 1/2 Ave S · Fargo, ND 58104

$289,000

3 bd · 2.0 ba · 984 sqft · MultiFamily public records · 16 Days on market

Built 2002 4,181 sqft lot

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Why this score? — see what drove the D+ grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +16.9/30.0
• ARV discount +7.5/15.0
• DSCR +5.2/10.0
• 1% rule +4.3/10.0
• Livability +4.2/5.0
• Rent growth +3.8/5.0
• Schools +3.6/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks MLS

You've just found the ONE you've been waiting for! This move-in ready 3 bed, 2 full bath beautiful twinhome has many standout features and decorative touches throughout! The basement offers a family room with a cozy electric fireplace, 2 beds and a full bath. There is a deck off the living room which leads out to a spacious, fenced backyard. The 2 stall heated garage will complete the boxes on your wishlist! Schedule a showing with your favorite agent today!

Key facts

• Bright kitchen
• Fenced yard
• Large island

Tags

• SMART DISTRIBUTION OF SPACE
• BRIGHT KITCHEN
• DEDICATED DINING ROOM
• LARGE ISLAND
• BUTCHER BLOCK
• FENCED YARD

Property features AI

Finance

• Other:
• Financial info: Conventional mortgage type
• HOA & community:

Exterior

• Parking: Attached garage with 2 spaces
• Security:
• Utilities: City water (in street); City sewer, connected; 200+ amp electric service; Electric fuel
• Home design: Attached residential property; Split entry (bi-level); Entry level spans split-entry design
• Construction: Asphalt roof; Poured concrete foundation; Built with stone and vinyl materials
• Exterior features: Full yard fencing; Stone and vinyl exterior

Interior

• Kitchen: Cooktop; Wall oven; Microwave; Dishwasher; Disposal; Refrigerator
• Bedrooms: 3 bedrooms
• Flooring:
• Bathrooms: 2 full bathrooms (includes an upper-level full bath and a Hollywood bath in the basement)
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Finished basement; Electric fireplace; Deck
• Laundry & utility: Main laundry room on lower level; Washer; Dryer; Electric water heater

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath multifamily listed at $289k.

Deal economics

• At list price, monthly cash flow is $189 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $268k (7.4% below list).
• Recommended offer: $268k (7.4% below list) — sets the bar for 1% rule.
• Cap rate 7.1% vs local median 2.5% in Fargo — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 85/100 on livability (#1 in ND, #605 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, cost of living A+; Watch: crime F.
• Fargo 1 (urban): math 41% / reading 44% proficiency, ranked #28 of 53 in ND (top 53%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising fast (+5.1%/yr); 371 active listings in the ZIP; 39 comparable units currently listed for rent nearby; rentals at typical pace (median 15d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 1,218 units permitted in Cass County in 2024 (410 in 5+ unit buildings).
• This rent runs 37% of the median local income ($86k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $9k of value loss. Plan a longer hold.
• Cass County population projected at +69% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 16 days — a 2% lower offer ($285k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 11y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Recommended offer $267,600 (7.4% below list)

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
3. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
4. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
5. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
6. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 0.93% ✗
• Cap rate: 7.08%
• Cash-on-cash: 2.80%
• DSCR: 1.12
• GRM: 9.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 5.13% rent growth · sell at horizon

5-year hold

• IRR: -9.6%
• Equity multiple: 0.64×
• Total profit: $-28,963
• Equity at exit: $43,091

10-year hold

• IRR: 2.4%
• Equity multiple: 1.19×
• Total profit: $15,339
• Equity at exit: $24,987

Cash invested: $80,920 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 82 Strongly Landlord-Friendly
• State North Dakota: 82 Strongly Landlord-Friendly · R+20
• County: — inherits STATE
• City: — inherits STATE

3-day notice; landlord-friendly.

Methodology + full state rankings →

ZIP-level market 58104

• Home prices YoY: -29.6%
• Rents YoY: 5.1%
• Active inventory: 371
• Price-to-rent: 18.0×

Monthly cashflow live

• Estimated rent: $2,676 medium
• Mortgage (P&I): −$1,516
• Tax from tax record: −$289 /mo · $3,473/yr
• Insurance: −$120
• HOA: −$0
• Vacancy / Maint / Mgmt: −$562
• Net cashflow: $189

Break-even live

Break-even rent $2,437

Max offer price $289,000

Occupancy floor 88%

Sensitivity live

Price	-10% $352	-5% $270	+0% $189	+5% $107	+10% $25
Rent	-10% $-23	-5% $83	+0% $189	+5% $294	+10% $400
Rate	-1.0pp $334	-0.5pp $262	base $189	+0.5pp $114	+1.0pp $38

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	3	2	$2,676
Total (2 units)			$2,676

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $72,250
• Closing costs: $8,670
• Reserves months: —
• Total cash needed: —

Rent comps 39 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3720 42nd St S Fargo, ND	2.0–4.0	1.0–2.0	1105	$1,118	$1.01	22d	1	0.21mi
4045 34th Ave S Fargo, ND	1.0–2.0	1.0–2.0	886	$1,265	$1.43	15d	15	0.74mi
4452 47th St S Fargo, ND	1.0–3.0	1.0–2.0	956	$1,313	$1.37	15d	10	0.74mi
4551 47th Ave S Fargo, ND	2.0	1.0–2.0	987	$1,475	$1.49	15d	21	0.76mi
4221 33rd Ave S Fargo, ND	2.0	1.0	900	$900	$1.00	22d	1	0.78mi
4231 33rd Ave S Fargo, ND	2.0	1.0	900	$900	$1.00	22d	1	0.78mi
4201 33rd Ave S Fargo, ND	2.0	1.0	900	$900	$1.00	15d	2	0.78mi
4251 33rd Ave S Fargo, ND	1.0–3.0	1.0–2.0	975	$1,115	$1.14	22d	2	0.78mi
3330 42nd St SW Fargo, ND	1.0–3.0	1.0–2.0	1051	$1,095	$1.04	22d	1	0.78mi
4261 33rd Ave S Fargo, ND	2.0	1.0	1000	$950	$0.95	22d	1	0.79mi
4281 33rd Ave S Fargo, ND	1.0–3.0	1.0–2.0	975	$1,165	$1.19	15d	2	0.80mi
4835 38th St S Fargo, ND	3.0	1.0–2.0	956	$1,765	$1.85	15d	36	0.81mi
3548 47th St S Fargo, ND	1.0–2.0	1.0–2.0	892	$1,235	$1.38	15d	3	0.83mi
4901 44th Ave S Fargo, ND	1.0–3.0	1.0–2.0	948	$1,325	$1.40	15d	22	0.84mi
4550 49th Ave S Fargo, ND	3.0	1.0–2.0	996	$1,945	$1.95	15d	25	1.03mi
5100 44th Ave S Fargo, ND	1.0–3.0	1.0–2.0	979	$1,380	$1.41	15d	15	1.11mi
4425 31st Ave S Fargo, ND	1.0–2.0	1.0–2.0	1111	$1,285	$1.16	15d	2	1.13mi
4240 53rd Ave S Unit 4240-202 Fargo, ND	2.0	2.0	982	$1,275	$1.30	22d	1	1.19mi
4422 30th Ave S Fargo, ND	1.0–2.0	1.0–2.0	834	$1,139	$1.36	15d	3	1.20mi
5207 33rd Ave S Fargo, ND	1.0–3.0	1.0–2.0	1090	$1,350	$1.24	22d	1	1.26mi
3301 32nd St S Fargo, ND	3.0	1.0–2.0	808	$1,483	$1.83	15d	9	1.30mi
2836 41st St S Fargo, ND	2.0	1.0–2.0	965	$1,480	$1.53	15d	13	1.32mi
4389 Calico Dr S Fargo, ND	2.0	2.0	1100	$1,195	$1.09	22d	1	1.36mi
5400 42nd St S Fargo, ND	1.0–3.0	1.0–2.0	978	$1,390	$1.42	15d	6	1.36mi
5599 36th Ave S Fargo, ND	1.0–3.0	1.0–2.0	1351	$2,400	$1.78	15d	9	1.37mi
4920 30th Ave S Fargo, ND	3.0	1.0–2.0	999	$1,765	$1.77	15d	41	1.37mi
3760 55th Ave S Fargo, ND	3.0	1.0–2.0	910	$1,900	$2.09	15d	37	1.40mi
4385 Calico Dr S Fargo, ND	1.0–2.0	1.0–2.0	900	$1,195	$1.33	22d	1	1.41mi
3302 31st Ave S Fargo, ND	1.0–3.0	1.0–2.0	926	$1,150	$1.24	15d	13	1.41mi
3343 31st Ave S Fargo, ND	1.0–3.0	1.0	839	$905	$1.08	22d	1	1.43mi
5601 34th Ave S Fargo, ND	2.0	1.0–2.0	918	$1,830	$1.99	15d	11	1.44mi
3140 33rd St S Fargo, ND	2.0–3.0	1.0	945	$970	$1.03	15d	5	1.45mi
3510 28th St S Fargo, ND	3.0	1.0–2.0	786	$1,335	$1.70	15d	10	1.45mi
4393 Calico Dr S Fargo, ND	1.0–2.0	1.0–2.0	950	$1,195	$1.26	22d	2	1.46mi
4431 Calico Dr S Fargo, ND	1.0–2.0	1.0–2.0	950	$1,195	$1.26	22d	1	1.47mi
3161 32nd St S Fargo, ND	2.0–3.0	1.0	969	$1,000	$1.03	15d	7	1.47mi
3031 33rd St S Fargo, ND	2.0–3.0	1.0–1.5	1078	$1,340	$1.24	15d	3	1.48mi
2777 47th St S Fargo, ND	1.0–3.0	1.0–2.0	1075	$1,295	$1.20	22d	1	1.48mi
3230 Seter Pkwy S Fargo, ND	1.0–3.0	1.0–2.0	1227	$1,825	$1.49	15d	7	1.50mi

Listing history 14 events

1. 2026-05-09
   status Pending
2. 2026-05-01
   historical Contingent - Inspection
3. 2026-04-23
   listed $289,000 Active
4. 2024-03-08
   soldstatus $267,000 462-char remark

   Show marketing remark (462 chars)

   You've just found the ONE you've been waiting for! This move-in ready 3 bed, 2 full bath beautiful twinhome has many standout features and decorative touches throughout! The basement offers a family room with a cozy electric fireplace, 2 beds and a full bath. There is a deck off the living room which leads out to a spacious, fenced backyard. The 2 stall heated garage will complete the boxes on your wishlist! Schedule a showing with your favorite agent today!

5. 2024-03-08
   soldstatus $267,000

   Show marketing remark (462 chars)

   You've just found the ONE you've been waiting for! This move-in ready 3 bed, 2 full bath beautiful twinhome has many standout features and decorative touches throughout! The basement offers a family room with a cozy electric fireplace, 2 beds and a full bath. There is a deck off the living room which leads out to a spacious, fenced backyard. The 2 stall heated garage will complete the boxes on your wishlist! Schedule a showing with your favorite agent today!

6. 2024-01-10
   listed $267,000 462-char remark

   Show marketing remark (462 chars)

   You've just found the ONE you've been waiting for! This move-in ready 3 bed, 2 full bath beautiful twinhome has many standout features and decorative touches throughout! The basement offers a family room with a cozy electric fireplace, 2 beds and a full bath. There is a deck off the living room which leads out to a spacious, fenced backyard. The 2 stall heated garage will complete the boxes on your wishlist! Schedule a showing with your favorite agent today!

7. 2019-04-22
   soldstatus $196,000
8. 2019-04-19
   soldstatus $196,000 420-char remark

   Show marketing remark (420 chars)

   UPGRADES GALORE! Here's a twin home that won't disappoint and will stand out from the rest. The kitchen has been upgraded with new cabinets, over-sized butcher block island and pendant lighting. New flooring, doors, trim and casing throughout! Don't miss the family room fireplace, heated garage, fenced backyard and MORE. A full list of upgrades can be found in the documents tab. This one will check all the boxes!

9. 2019-02-28
   listed $197,000 420-char remark

   Show marketing remark (420 chars)

   UPGRADES GALORE! Here's a twin home that won't disappoint and will stand out from the rest. The kitchen has been upgraded with new cabinets, over-sized butcher block island and pendant lighting. New flooring, doors, trim and casing throughout! Don't miss the family room fireplace, heated garage, fenced backyard and MORE. A full list of upgrades can be found in the documents tab. This one will check all the boxes!

10. 2015-06-02
    soldstatus $173,000
11. 2015-05-29
    soldstatus $173,000
12. 2015-04-06
    listed $172,500
13. 2012-11-28
    soldstatus $139,000
14. 2007-05-30
    soldstatus $140,400

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast ND · Resets to sale price

• Current annual tax: $3,473 · $289/mo
• Projected year-2 tax: $3,473 · $289/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (shaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥98°F today · 12 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $32,112
• − Mortgage interest: −$16,188
• − Property taxes: −$3,473
• − Insurance: −$1,445
• − Repairs & maintenance: −$2,569
• − Management: −$2,569
• − Depreciation: −$8,407
• Taxable loss: −$2,540
• Est. tax savings @ 24.0%: +$610
• After-tax cash flow: $2,873/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Fargo 1
• NCES district ID: 3806780
• Math proficiency: 41% ▼ -7.00%
• Reading proficiency: 44% ▼ -7.00%
• Median HH income: $46,524
• Composite: 36.23/100
• National rank: #4721
• State rank: #28 of 53 in ND

Livability — Fargo

• Score: 85/100
• State rank: #1
• US rank: #605

Category grades

Amenities A+ Commute A+ Cost of living A+ Crime F Employment C+ Housing A+ Health & safety A+ User ratings C+

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Fargo, ND
• County: Cass County · 177,143 people
• City population: 130,876
• Metro: Fargo, ND-MN
• Population (ZIP): 49,168
• Household income: $85,747
• Rent vs Own: 54.6% rent · 45.4% own
• Severe rent burden: 2039.0

Population outlook (Cass County) Hauer SSP2

• Today (2025): 223,771 people
• By 2030: 251,835 · +12.5%
• By 2040: 311,816 · +39.3%
• By 2050: 378,694 · +69.2%
• By 2075: 571,386 · +155.3%
• By 2100: 769,727 · +244.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (83%)
• Race & ethnicity: White 83% Black 7% Two or more races 5% Asian 4% Hispanic / Latino 2%
• Common ancestry: Portuguese 27% Lithuanian 4% Romanian 2%
• Foreign-born: 9% · Canada, China
• Languages at home: 92% English-only · Korean 1% Spanish 1% Russian/Polish/Slavic 1%

Political lean MEDSL · Cass

• 2024 margin: Lean R (+8.4) · D 44.9% · R 53.3% · Other 1.9%
• 2008→2024 swing: -15.5pp toward R · 2008: 7.1pp · 2024: -8.4pp
• All cycles: 2024: R+8.4 2020: R+2.7 2016: R+10.7 2012: R+3.0 2008: D+7.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -78.58%
• Current HPI: 187.1707
• Rent YoY: ▲ 5.13%
• Metro: Fargo, ND-MN
• State GDP YoY: ▲ 2.09%
• F500 in state: 2

Industry mix (Fortune 500 HQ in ND)

Industry	F500 HQs	Revenue
▸Utilities / Construction	1	$6B

Price history

+105.8% since first listed

14 events — show timeline

• 2026-05-09 Pending — NORTHSTARMLS as Distributed by MLS Grid
• 2026-05-01 Contingent — NORTHSTARMLS as Distributed by MLS Grid
• 2026-04-23 Listed $289,000 NORTHSTARMLS as Distributed by MLS Grid
• 2024-03-08 Sold (Public Records) $267,000 Public Records
• 2024-03-08 Sold (MLS) $267,000 NORTHSTARMLS as Distributed by MLS Grid
• 2024-01-10 Listed $267,000 NORTHSTARMLS as Distributed by MLS Grid
• 2019-04-22 Sold (Public Records) $196,000 Public Records
• 2019-04-19 Sold (MLS) $196,000 NORTHSTARMLS as Distributed by MLS Grid
• 2019-02-28 Listed $197,000 NORTHSTARMLS as Distributed by MLS Grid
• 2015-06-02 Sold (Public Records) $173,000 Public Records
• 2015-05-29 Sold (MLS) $173,000 NORTHSTARMLS as Distributed by MLS Grid
• 2015-04-06 Listed $172,500 NORTHSTARMLS as Distributed by MLS Grid
• 2012-11-28 Sold (Public Records) $139,000 Public Records
• 2007-05-30 Sold (Public Records) $140,400 Public Records

Property tax history

+5.9%/yr

Latest (2025): $3,473 · +4.6% YoY. Source: county tax records.